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Your Financial Safety Net
Linked directly to your business checking account, this line of credit* will provide you with back-ups of cash when you need it and overdraft protection for your account.
It Will Help You...
- Save money with a low fixed rate.
- Save time by sporting a fast application and approval process.
- Have peace of mind knowing you have overdraft protection on your checking account and can readily access cash when you need it.
- Secure a loan amount of anywhere from $500 to $50,000.
* You must have a Business Checking Account to open a Business Overdraft.
Lines of Credit Options
Overdraft Plus
- Provides ready access to cash and overdraft protection.
- Loan Amount: $500 - $2500.
- Interest Rate 10.50%.
- Due Date: Last day of the month.
- Late Charge: $15.
- Payment Type: Auto Pay.
- Payment Amount:
- $50 on balances up to $1500.
- $100 on balances over $1500.
- Prepayment Penalty: N/A.
- Application Taken By: Branch.
- Requirement(s): Business Checking Account.
- Additional payments can be made in person, mail, online banking, mobile banking, or by calling the call center.
Overdraft Line
- Provides ready access to cash and overdraft protection.
- Loan Amount: $2500.01 - $50,000.00.
- Interest Rate: 8.90%.
- Due Date: Twenty-fifth of the month.
- Late Charge: $15.
- Payment Type: Auto Pay.
- Payment Amount: 3% of balance or $20/whichever is greater.
- Prepayment Penalty: N/A.
- Application Taken By: Business Loan Officer.
- Requirement(s): Business Checking Account.
- Additional payments can be made in person, mail, online banking, mobile banking, or by calling the call center.
Business Lines of Credit
- Can be secured or unsecured.
- Loan Amount: $2500.01 - $50,000.00.
- Interest Rate: Variable and is determined at the time of loan approval and is based on cash flow, credit, and other factors.
- Due Date: Fifteenth of each month.
- Payment Type: Can have Auto Pay, but Auto Pay is NOT required.
- Prepayment Penalty: N/A.
- Application Taken By: Business Loan Officer.
- Requirement(s): Business Checking Account.
- Additional payments can be made in person, mail, online banking, mobile banking, or by calling the call center.
- Interest only payments.
- Must pay down at least once a year.
- Renews every one, two, three, four, or five years (determined at the time of loan approval).
- Does NOT link directly to an account and can be accessed by withdraw at a branch or transferring via Online Banking.
